News stories published prior to 2017 can be found in our archives
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News release: 2019/20 audited accounts
Audit arrangements in local councils, police, fire and other local government bodies are continuing to exhibit signs of stress and difficulty. In the latest audit round, focusing on 2019/20 financial statements and value for money arrangements, fewer than 50% of bodies’ audits were completed by the revised target of 30 November. Figures compiled by PSAA, […]
Read moreConsultation: PSAA proposals for a new approach to fee variations
We are consulting on proposals for a new approach to fee variations. Information on the consultation and how to respond can be found at Fee variations consultation – November 2020.
Read morePSAA response to the FRC’s report on its inspection of major local audits in 2018/19
PSAA takes very seriously the Financial Reporting Council (FRC)’s report on its inspection of major local audits (MLA) in 2018/19. PSAA agrees with the FRC’s statement that high quality audit is essential to maintain stakeholder confidence by providing an independent, impartial view of an MLA body’s financial statements and arrangements in place to secure value for […]
Read morePSAA issues its response to Sir Tony Redmond’s review
Following the publication of Sir Tony Redmond’s review of financial reporting and auditing in local government bodies, PSAA has written to all Section 151 Officers and Audit Committee Chairs on 7 October outlining its response which is as set out below. Dear Section 151 Officer/Audit Committee Chair Redmond Report As I am sure you […]
Read moreRecording of Local Audit Quality Forum (LAQF) webinar with Sir Tony Redmond on 1 October 2020
Sir Tony Redmond was the key speaker at PSAA’s special Local Audit Quality Forum (LAQF) webinar on 1 October 2020, attended by over 200 people. Sir Tony outlined the key findings from his recent review of local government audit and financial reporting and explained the thinking which shaped the recommendations in his report published on […]
Read moreNEWS RELEASE: PSAA responds to the NAO‘s consultation on VFM arrangements guidance and Public Audit Forum exposure draft of Practice Note 10
PSAA has responded to the NAO’s consultation on its Auditor Guidance Note (AGN 03) that provides guidance to auditors to support their work on value for money (VFM) arrangements. PSAA response to consultation on AGN-03 PSAA is supportive of the change to a VFM arrangements commentary in that it should enable auditors to add more […]
Read morePSAA publishes 2019/20 annual report and accounts
PSAA has published its 2019/20 annual report and accounts which cover the company’s fifth full year of operation. The company’s auditor, UHY Hacker Young LLP, issued an unqualified opinion on 24 July 2020. The 2019/2020 annual report and accounts can be found on the Annual report and accounts page.
Read morePSAA publishes the outcome of its market engagement exercise
Following the conclusion of the market engagement exercise undertaken during June 2020, PSAA today publishes the summary of responses. We were delighted that all nine registered firms fully engaged. The exercise sought views from all registered firms to inform PSAA’s consideration of whether a further procurement would be appropriate in order to try to attract […]
Read morePSAA to explore the potential to attract additional capacity into the market
PSAA is today initiating a market engagement process, that will run from 1 to 30 June 2020, to seek views and feedback from audit firms registered with ICAEW or ICAS as local auditors under the Local Audit and Accountability Act 2014. The aim is to hear from potential suppliers about their preferences in relation to […]
Read morePSAA Publishes Findings of Audit Survey
Public Sector Audit Appointments (PSAA) is today publishing the findings of survey of audited bodies’ feedback on their audits of 2018/19 accounts. In the past, surveys have been undertaken by the audit firms themselves and have sought the responses of client Chief Finance Officers (CFOs) to a relatively small number of high level questions. This […]
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